by Calculated Risk on 10/05/2022 08:38:00 AM
From the Department of Commerce reported:
that the goods and services deficit was $67.4 billion in August, down $3.1 billion from $70.5 billion in July,
August exports were $258.9 billion, $0.7 billion less than July exports. August imports were $326.3 billion,
$3.7 billion less than July imports.
Exports increased and imports decreased in August.
Exports are up 20% year-over-year; imports are up 14% year-over-year.
The second graph shows the U.S. trade deficit, with and without petroleum.
Note that net, imports and exports of petroleum products are close to zero.
The trade deficit with China increased to $37.4 billion in August, from $21.7 billion a year ago.